Board Resolution No. 040/2013

BOARD RESOLUTION NO. 040/2013 SUBJECT: MONETARY OPERATIONS MANAGEMENT – AUTHORIZES MONETIZATION OF Bs20 AND Bs10 BANKNOTES AND Bs5 COINS.

SEEN: The Law No. 901 of November 28, 1986, which creates the "Boliviano" as the legal and mandatory unit of currency. The Law No. 1670 of October 31, 1995. The Statute of the Central Bank of Bolivia of October 21, 2005. The Regulation on Monetization, Distribution, and Destruction of Monetary Material, approved by Board Resolution No. 117/2009 of October 6, 2009, and its subsequent modifications. The Coin Provision Contracts SANO No. 185/2011 of May 20, 2011 signed with the company State Mints of Baden Wuerttemberg, and the Banknote Provision Contract SANO No. 256/2011 of July 26, 2011 signed with the company De la Rue International Limited and SANO No. 257/2011 of July 27, 2011 signed with the company Oberthur Technologies. The Report from the Monetary Operations Management BCB-GOM-STES-INF-2013-26 of April 17, 2013. The Report from the Legal Affairs Management BCB-GAL-SANO-INF-2013-121 of April 19 2013.

CONSIDERING: That Article 1 of Law No. 901 creates the Boliviano as the unit of the monetary system of the State, through banknotes and coins that the Central Bank of Bolivia will issue and make circulate as a legal tender means of payment, starting from January 1, 1987. That according to Article 10 of Law No. 1670, the Central Bank of Bolivia exercises in an exclusive and non-delegable manner the function of issuing the monetary unit of Bolivia, in the form of banknotes and metallic coins.

//2. R.D. No. 040/2013 That it is an attribution of the Board of Directors according to Article 54 subsection m) of Law No. 1670 and the number 11 of Article 11 of the Statute, to authorize and supervise the issuance of banknotes and coins. That Article 3 of the Regulation on Monetization, Distribution, and Destruction of Monetary Material, establishes that it is the faculty of the Board of Directors of the BCB, the authorization of monetization of the monetary material based on the reports of the Monetary Operations Management (GOM) and of the Legal Affairs Management based on the issuance or storage requirements determined by the GOM. That in accordance with the Coin Provision Contracts SANO No. 185/2011 of May 20 2011 signed with the company State Mints of Baden Wuerttemberg, and for the Banknote Provision Contract SANO No. 256/2011 of July 26, 2011 signed with the company De la Rue International Limited and SANO No. 257/2011 of July 27, 2011 signed with the company Oberthur Technologies, the Central Bank of Bolivia received, respectively, 33 million pieces of Bs5 coins, 75 million pieces of Bs20 coins, and 65 million pieces of Bs10 coins. That Report BCB-GOM-STES-INF-2013-26 establishes the need to introduce from the month of April of the current management, banknotes of the Bs20 and Bs10 denominations and Bs5 coins. That in the opinion of the Legal Affairs Management according to Report BCB-GAL-SANO-INF 2013-121 there is no legal impediment for the Board of Directors of the BCB, in attention to its powers and competencies, to approve the monetization of banknotes of the Bs20 and Bs10 denominations and Bs5 coins.

THEREFORE THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:

Article 1.- Authorize the monetization of banknotes of the Bs20 and Bs10 denominations and coins of the Bs5 denomination according to the following detail:

DENOMINATION | NUMBER OF PIECES | VALUE IN Bs. 20 | 50,000,000 | 1,000,000,000 10 | 65,000,000 | 650,000,000 5 | 33,000,000 | 165,000,000 Total | 148,000,000 | 1,815,000,000

Article 2.- Designate Acting President Marcelo Zabalaga to represent the Board of Directors in the act of monetization of the cited material.

//3. R.D. No. 040/2013 Article 3.- The Presidency and General Management are charged with the execution and compliance of this Resolution.

La Paz, April 23, 2013

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Marcelo Zabalaga Estrada

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Abraham Pérez Alandia Hugo Dorado Araníbar

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Rafael Boyán Téllez Rolando Marín Ibáñez